News - Market Insights

Strict environmental controls designed to curb steel production in China are unlikely to signal the end of the boom in iron ore prices, and miners producing higher grades of iron ore are likely to see a benefit from the restrictions (reports The AFR)

Strict environmental controls designed to curb steel production in China are unlikely to signal the end of the boom in iron ore prices, and miners producing higher grades of iron ore are likely to see a benefit from the restrictions (reports The Australian Financial Review). The price of spot iron ore fell 2.7 per cent to a six-week low of $US157.01 a tonne on Monday, according to Fastmarkets MB, with investors cautious over the outlook.

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Kingston Resources (ASX: KSN) has moved to 100% ownership of the huge Misima gold project in Papua New Guinea, in what the company describes as a strategically important milestone (reports Small Caps).

Kingston Resources (ASX: KSN) has moved to 100% ownership of the huge Misima gold project in Papua New Guinea, in what the company describes as a strategically important milestone (reports Small Caps). The company has now paid the final $1.6 million of the $2 million price on acquiring the minority 19% stake in the mining project held by Japan’s Pan Pacific Copper. Final regulatory approvals for the acquisition have also now been received.

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Initial ground exploration in the Julimar State Forest, immediately north of Chalice Mining’s Gonneville PGE-nickel-copper discovery, has defined new electromagnetic conductors (reports MiningNews).

Initial ground exploration in the Julimar State Forest, immediately north of Chalice Mining’s Gonneville PGE-nickel-copper discovery, has defined new electromagnetic conductors (reports MiningNews). The 6.5km-long Hartog electromagnetic anomaly was discovered in September last year using airborne EM, but approval from the Western Australian government to explore in the forest was only received in January.

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New hits at Bellevue Gold’s Marceline discovery at Bellevue in Western Australia have extended the known strike length to 500m (reports MiningNews).

New hits at Bellevue Gold’s Marceline discovery at Bellevue in Western Australia have extended the known strike length to 500m (reports MiningNews). New results included 4.8m at 20.1 grams per tonne gold, including 0.9m at 102.7gpt gold from 489.4m; 2.1m at 45.5gpt gold from 503.4m; 4.2m at 21gpt gold from 459m; 4m at 16.7gpt gold from 455.7m; 4.9m at 13gpt gold from 462.1m; 1.2m at 45.1gpt gold from 479.4m; 8.2m at 6gpt gold from 379.8m; and 3.5m at 12.1gpt gold from 459.9m. Mineralisation remains open in every direction.

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Lithium carbonate prices within China are approaching a 100% increase year to date, Benchmark Mineral Intelligence said in its inaugural mid-month price assessment (reports MiningNews).

Lithium carbonate prices within China are approaching a 100% increase year to date, Benchmark Mineral Intelligence said in its inaugural mid-month price assessment (reports MiningNews). The battery supply chain research and price reporting agency said it would provide a semi-monthly update to increase the frequency of insight into the most liquid part of the lithium chemical market.

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Red 5 says its King of the Hills project near Leonora is fully funded after the gold miner locked in a $175 million debt facility and flagged a $60m rights issue (reports The West Australian).

Red 5 says its King of the Hills project near Leonora is fully funded after the gold miner locked in a $175 million debt facility and flagged a $60m rights issue (reports The West Australian). The Mark Williams-led company said the $175m in debt had been raised from a syndicate of three banks and involved a $160m senior secured loan and a $15m debt overrun facility.

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Strandline Resources says it is on the cusp of a final investment decision for its flagship Coburn mineral sands project near Shark Bay after securing $US60 million ($80m) in project debt (reports The West Australian).

Strandline Resources says it is on the cusp of a final investment decision for its flagship Coburn mineral sands project near Shark Bay after securing $US60 million ($80m) in project debt (reports The West Australian). The debt funding through European investment bank will stand alongside a $150m loan from the Federal Government’s Northern Australia Infrastructure Facility. It leaves only a roughly $30m equity raising component to complete the $260m funding puzzle for the project.

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Chris Ellison’s Mineral Resources has emerged with a 19.5% stake in copper developer Venturex Resources after spending A$30.8 million on stock (reports MiningNews).

Chris Ellison’s Mineral Resources has emerged with a 19.5% stake in copper developer Venturex Resources after spending A$30.8 million on stock (reports MiningNews). Long-term Venturex cornerstone shareholder Northern Star Resources offloaded its entire stake on Monday. The 70.8 million shares, representing 17.5% of the company, was sold on-market at 40c per share, or $28.3 million.

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